OKE Earnings

d earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) guidance increased to a range of $8.0 billion to $8.5 billion. Total 2026 capital expenditure guidance remains unchanged at approximately $2.7 billion to $3.2 billion. “ONEOK’s first-quarter performance reflects year-over-year volume growth and continued operational execution ac

ase in First-Quarter 2026 Net Income and 13% Increase in Adjusted EBITDA April 28, 2026 Page 2 -more- building momentum through the year and supporting increased 2026 financial guidance expectations.” FIRST-QUARTER 2026 FINANCIAL HIGHLIGHTS: Three Months Ended March 31, 2026 2025 (Millions of dollars, except per share amounts) Net income (a) (b) $ 776 $ 691 Ne

crease in First-Quarter 2026 Net Income and 13% Increase in Adjusted EBITDA April 28, 2026 Page 15 -more- ONEOK, Inc. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES Updated 2026 Guidance Range (Unaudited) (Millions of dollars) Reconciliation of net income to adjusted EBITDA Net income $ 3,210 - $ 3,790 Interest expense, net of capitalized interest 1,835 - 1,735

“On behalf of ONEOK’s management team and employees, I want to thank Gerald and Pattye for their years of service and the guidance they’ve provided,” said Pierce H. Norton II, ONEOK president and CEO. “Their counsel and oversight have helped shape the decisions that strengthened ONEOK into the premier mids

of our employees, whose unwavering commitment to safe and reliable operations, and disciplined execution of our strategy, position us for continued success.” FOURTH-QUARTER AND FULL-YEAR 2025 FINANCIAL HIGHLIGHTS: Three Months Ended Years Ended Dec. 31, Dec. 31, 2025 2024 2025 2024 (Millions of dollars, except per share amounts) Net income (a) (c) $ 978 $ 1,00

atural Gas Pipelines $825 - $865 Other $20 - $30 (a) Adjusted EBITDA is a non-GAAP measure. A reconciliation to the relevant GAAP measure is included in this news release. 2026 Guidance Range Summary of 2026 Volume Guidance Natural gas liquids raw feed throughput (MBbl/d) 1,450 - 1,550 Refined products volumes shipped (MBbl/d) 1,525 - 1,625 Crude oil volumes s

550 Refined products volumes shipped (MBbl/d) 1,525 - 1,625 Crude oil volumes shipped (MBbl/d) 1,650 - 1,950 Natural gas processed (MMcf/d) 5,410 - 6,170 ONEOK Announces Higher Full-Year 2025 Earnings: Net Income up 11%, Adjusted EBITDA up 18% Feb. 23, 2026 Page 4 -more- 2026 Financial Guidance: ONEOK’s 2026 net income and adjusted EBITDA guidance includes exp